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Kyle F. Herkenhoff

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Tarnishing The Golden And Empire States: Land-Use Restrictions And The U.S. Economic Slowdown

by Kyle F. Herkenhoff, Lee Ohanian, Edward Prescottvia Federal Reserve Bank of Minneapolis
Monday, November 20, 2017

This paper studies the impact of state-level land-use restrictions on U.S. economic activity, focusing on how these restrictions have depressed macroeconomic activity since 2000. We use a variety of state-level data sources, together with a general equilibrium spatial model of the United States to systematically construct a panel dataset of state-level land-use restrictions between 1950 and 2014.

Analysis and Commentary

Tarnishing The Golden And Empire States: Land-Use Restrictions And The U.S. Economic Slowdown

by Kyle F. Herkenhoff, Lee Ohanian, Edward Prescottvia The National Bureau Of Economic Research
Friday, October 13, 2017

This paper studies the impact of state-level land-use restrictions on U.S. economic activity, focusing on how these restrictions have depressed macroeconomic activity since 2000. We use a variety of state-level data sources, together with a general equilibrium spatial model of the United States to systematically construct a panel dataset of state-level land-use restrictions between 1950 and 2014. We show that these restrictions have generally tightened over time, particularly in California and New York.